Boom Around Natural Ingredients, and Flavouring Agets Across F&B Industry to Favour Lime Oil Market
Lime was originally native to Southeast Asia before spreading to Africa, and Europe in around the 12th century. Today, it is grown in many regions of the world with India, Mexico, Brazil, and Spain being the largest producers. The essential oil is produced from the peel of the fruit by a process of steam distillation or cold compression. Lime is a popular kitchen ingredient and a flavouring agent used for a vast number of F&B products. However, its essential oil has various uses. Like the other citrus essential oils, it is full of medicinal properties that can benefit our health in many ways. These properties include antiseptic, antibacterial, antiviral, and astringent activities among others. Limes are a rich source of natural antioxidants, and beneficial nutrients which give the oil many health benefits. The growing demand for natural ingredients to improve the nutritional content of food and beverages is expected to fuel the growth of global lime oil market.
Market Reaps the Benefit of an Escalating Demand from Personal Care and Grooming Industry
Widespread availability, and ease of access will offer a collective push to demand, thereby driving lime oil market forward. Growing use, as well as increased consumer knowledge of the benefits of citrus oils, are expected to drive market expansion. Citrus oil demand is predicted to be caused by factors such as changing consumer lifestyles and higher expenditure on leisure and relaxation, as well as an increase in the number of spas and massage facilities, particularly in developing countries such as the Asia Pacific, the Middle East, and Africa. The increasing use of lemon oil in cosmetics, personal care, and spa and relaxation applications will favour the performance of lime oil market. Lime oil can treat acne, athlete's foot, and varicose veins. With these advantages, lime oil is often used in creams, and lotions. Besides its remarkable purifying capabilities, lime oil also has exceptional antibacterial and disinfection properties, making it an ideal option for formulating a wide range of household and personal care products.
Adding natural lime oil to commonly used personal care products is seen as adding value. An estimated 80% of American women, or 161 million people, use cosmetics daily in the US. The average woman in the US leaves her house each day having used at least 16 facial care or cosmetics items, and she spends $200,000-$300,000 on skincare and cosmetics in her lifetime (or an estimated $250 per month). The growing use of cosmetic products, especially among women, will boost the lime oil market in the coming years. Lime oil's capacity to help prevent hair loss, skin ageing, and muscular weakness will continue to boost its use in anti-ageing cosmetic products. Lime oil's regenerative and anti-ageing properties are also beneficial to your hair. Lime oil has been shown to reduce dandruff, encourage hair development, and improve your hair’s natural gloss. This factor will increase the use of lime oil for hair treatment. American consumers spent 64.7 US dollars per year on hair care products, which was reduced compared to 2019 due to COVID-19. However, the US hair care product market will reach 102 billion in 2024 from 85.4 billion in 2017. The continual expansion of the hair care industry due to its rapid consumption will propel the growth of lime oil market in this segment.
Increasing Use of Orange Oil in Skincare Products to Bode Well for Lime Oil Market
The orange oil sector will have the biggest market share in the most significant cast period. The increased demand for cosmetics and skincare items used for skin rejuvenation is expected to boost the market growth. For its antibacterial, and anti-inflammatory characteristics, orange oil is the ideal ingredient for skin and hair care. According to research, consistent use of these items improves blood circulation, vitamin C absorption, and collagen formation, all of which are necessary to prevent and slow the indications of ageing. These products also benefit the health of the skin, hair, and nails. Rising consumer awareness of these benefits is expected to benefit segment growth.
North America Acquire Major Share due to Increase Use of Cosmetic Products in Region.
North America is likely to account for the most significant revenue share in the worldwide lime oil market because of strong consumer awareness and the availability of a diverse variety of worldly goods. This is primarily due to the increasing adoption of lime oil for applications in personal care products and cosmetics, as well as in the food and beverage industries in countries such as the United States and Canada, which is expected to drive the growth of the North American lime oil market in the future. With the growing demand for natural components in cosmetics and food and beverages, the United States is one of the world's largest product importers. In 2020, the average yearly expenditure on cosmetics, perfume, and bath preparation items in the United States was roughly 199 dollars per consumer. The continual increase in the spending on cosmetic products in the country will contribute to the growth of the regional market
The Asia Pacific market is expected to have the highest compounded annual growth in revenue in the worldwide lime oil market due to significant demand from the food and cosmetic industries. The growing number of spas and massage establishments will likely boost regional demand over the projection period. The rising use of lime oil in pharmaceutical applications and the greatest production of lemon oil in APAC nations such as India and China are likely to drive the lime oil market forward. Lemon and lime output in India was under 3.72 million tonnes in 2020. In comparison, approximately 2.6 million tons of lemon and limes will be produced in China in 2020.
Global Lime Oil Market: Competitive Landscape
Companies in the market are introducing new products and forming collaborations, alliances, and partnership agreements. In November 2021, Givaudan announced the acquisition of Custom Essence, a fragrance production firm based in the United States. Givaudan will be able to extend its footprint with local and regional consumers and expand its expertise in natural perfumes as a result of the acquisition. In November 2020, Sensient Technologies Corporation (Milwaukee, USA) had inked a purchase agreement with Symrise AG to acquire their fragrance and aroma chemicals activities. These include a variety of scent molecules and aromas derived from natural and renewable sources.
A few of the players in the lime oil market include Young Living Essential Oils, Plant Therapy Essential Oils, TERRA Holdings, LLC, Moksha Lifestyle Products Farotti Essenze, and Mountain Rose Herbs.
Global Lime Oil Market is Segmented as Below:
Key Elements Included In The Study: Global Lime Oil Market
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